APP - 1950s Tax Debate - ILA vs Christiefan915

[canceled.2021.1]

You are enamored with Bernie Sanders comment about the 90% top rate in 1950. I contend that Bernie and you are not looking at the entire picture, so I would like to debate the issue with you.

But, first I would like to start the discussion with this question. Is it your desire to go back to the tax code of 1950? I mean the entire tax code. Here it is for your review. Remember these are infation adjusted numbers for 2013.


http://taxfoundation.org/sites/taxfoundation.org/files/docs/fed_individual_rate_history_adjusted.pdf





So my first question to you Christie is would you take this 1950 tax code as is and bring it forward to today. No cherry picking. In order to get the 91% top marginal rate that democrats talk about in such glowing terms you have to take the entire thing, would you do it?

Let's run through an example of a family of four making $50,000 a year shall we?

On their first $19,053 they would be taxed at 20% or $3,810.60
From $19,053 to $38,057 they would be taxed at 22% or $4,191.88
From $38,057 to $50,000 they would be taxed at 26% or $3,092.18

that brings their tax liability to $11,094.66. Of course I am not counting any deductions

No compare that to today?

On their first $17,488 they would be taxed at 10% or $1,748.8
From $17,488 to $50,000 they would be taxed at 15% or $4,876.8

that brings their tax liability to $6,625.6

Of course I would have to go back and see if I can find all of the available deductions from 1950 so it is an apples to apples comparison. I will see what i can find, but we can start with you commenting on whether you really want to go back to the entire tax code of 1950.

Thank you and I look forward to a wonderful debate.

 

[christiefan915]

I am not interested in the tax code. Bernie's comment was true on its face and he didn't go into particulars. You are expanding his comment with your words, not his.

This isn't a topic that grabs my interest.

 

[canceled.2021.1]

I am not interested in the tax code. Bernie's comment was true on its face and he didn't go into particulars. You are expanding his comment with your words, not his.

This isn't a topic that grabs my interest.

I am not surprised. Can't say that I didn't try. And you are being dishonest. I am not expanding his comment. I am pointing out that he isn't telling the entire story. But, you seem to think it was one of the top lines of the debate and even started a thread about it so I thought it "grabbed your interest". My bad

I am always amazed at the number of liberals unwilling to partake in civil debate in APP

I will remember this quote next time a thread on taxes comes up

Good day

 

[christiefan915]

I am not surprised. Can't say that I didn't try. And you are being dishonest. I am not expanding his comment. I am pointing out that he isn't telling the entire story. But, you seem to think it was one of the top lines of the debate and even started a thread about it so I thought it "grabbed your interest". My bad

I am always amazed at the number of liberals unwilling to partake in civil debate in APP

I will remember this quote next time a thread on taxes comes up

Good day

If the debate had been about taxes you'd have a point. But all they did was touch on a number of issues, taxes being one of them. I watched the debate and read the transcript, it was basically sound bites.

This is all he said on the topic. I don't understand how you can call him a liar when the comments were so sketchy.

BERNIE SANDERS:
Let me put those proposals-- and you're absolutely right. That is what I wanna do. That is what has to happen if we're gonna revitalize and rebuild the crumbling middle class. In the last 30 years there has been a massive redistribution of wealth. And I know that term gets my Republican friends nervous.
The problem is this redistribution has gone in the wrong direction. Trillions of dollars have gone to the middle class and working families to the top 1/10 of 1% who have doubled the percentage of wealth (UNINTEL). Yes, I do believe that we must end corporate loopholes such that major corporations year after year pay virtually zero in federal income tax because they're stashing their money in the Cayman Islands.
Yes, I do believe there must be a tax on Wall Street speculation. We bailed out Wall Street. It is their time to bail out the middle class. Help our kids be able to go to college tuition free. So we pay for this by do demanding that the wealthiest people and the largest corporation who

QUESTION #3:
Well, let's get specific, how high would you go? You said before you'd go above 50%. How high?

BERNIE SANDERS:
We haven't come up with an exact number yet. But it will not be as high as the number under Dwight D. Eisenhower which was 90%. But it will be-- (LAUGHTER)
(OVERTALK)

BERNIE SANDERS:
I'm not a socialist compared to Eisenhower. (LAUGHTER) But-- (CHEERING) but-- but we are gonna end the absurdity as Warren Buffet often reminds us--

MARTIN O'MALLEY:
That's right.

BERNIE SANDERS:
--that billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform and the wealthiest (UNINTEL) corporations will pay when I'm president.

MARTIN O'MALLEY:
I mean, (UNINTEL) under Ronald Raegan's first term the highest marginal rate was 70%. And in talking to a lot of our neighbors who are in that super wealthy millionaire and billionaire category great numbers of them love their country enough to do more again in order to create more opportunity for America's middle class.

You and I had a civil debate once. But that works only when each side is equally invested in the topic. Tax code just doesn't interest me to the extent of debating it, sorry.

G'night.

 

[canceled.2021.1]

If the debate had been about taxes you'd have a point. But all they did was touch on a number of issues, taxes being one of them. I watched the debate and read the transcript, it was basically sound bites.

This is all he said on the topic. I don't understand how you can call him a liar when the comments were so sketchy.

BERNIE SANDERS:
Let me put those proposals-- and you're absolutely right. That is what I wanna do. That is what has to happen if we're gonna revitalize and rebuild the crumbling middle class. In the last 30 years there has been a massive redistribution of wealth. And I know that term gets my Republican friends nervous.
The problem is this redistribution has gone in the wrong direction. Trillions of dollars have gone to the middle class and working families to the top 1/10 of 1% who have doubled the percentage of wealth (UNINTEL). Yes, I do believe that we must end corporate loopholes such that major corporations year after year pay virtually zero in federal income tax because they're stashing their money in the Cayman Islands.
Yes, I do believe there must be a tax on Wall Street speculation. We bailed out Wall Street. It is their time to bail out the middle class. Help our kids be able to go to college tuition free. So we pay for this by do demanding that the wealthiest people and the largest corporation who

QUESTION #3:
Well, let's get specific, how high would you go? You said before you'd go above 50%. How high?

BERNIE SANDERS:
We haven't come up with an exact number yet. But it will not be as high as the number under Dwight D. Eisenhower which was 90%. But it will be-- (LAUGHTER)
(OVERTALK)

BERNIE SANDERS:
I'm not a socialist compared to Eisenhower. (LAUGHTER) But-- (CHEERING) but-- but we are gonna end the absurdity as Warren Buffet often reminds us--

MARTIN O'MALLEY:
That's right.

BERNIE SANDERS:
--that billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform and the wealthiest (UNINTEL) corporations will pay when I'm president.

MARTIN O'MALLEY:
I mean, (UNINTEL) under Ronald Raegan's first term the highest marginal rate was 70%. And in talking to a lot of our neighbors who are in that super wealthy millionaire and billionaire category great numbers of them love their country enough to do more again in order to create more opportunity for America's middle class.

You and I had a civil debate once. But that works only when each side is equally invested in the topic. Tax code just doesn't interest me to the extent of debating it, sorry.

G'night.

You are being deliberately coy here, but that's OK. The "Taxes were 90% under Eisenhower" isn't exactly a new line for the democrat party. I have been hearing your side utter those words for years now. You are trying to pass it off as a throwaway line.

I can understand if you don't want to talk about it. Hopefully you looked at the table of what the tax rates were in 1950 and learned something. If that happened, then I will be pleased

 

[christiefan915]

You are being deliberately coy here, but that's OK. The "Taxes were 90% under Eisenhower" isn't exactly a new line for the democrat party. I have been hearing your side utter those words for years now. You are trying to pass it off as a throwaway line.

I can understand if you don't want to talk about it. Hopefully you looked at the table of what the tax rates were in 1950 and learned something. If that happened, then I will be pleased

I'm not being coy. The whole exchange was hilarious because of how righties see socialism everywhere, and then Bern laid that little factoid on them. Whether it was 90% or 70% is irrelevant.

 

[canceled.2021.1]

I'm not being coy. The whole exchange was hilarious because of how righties see socialism everywhere, and then Bern laid that little factoid on them. Whether it was 90% or 70% is irrelevant.

You still don't get the point. It is that you and Bernie only want to cherry pick the top marginal rate in a vacuum and ignore the other tax rates and deductions. It is intellectually dishonest.